• NBIS is encountering selling pressure. Get the inside scoop here.

What To Know: Nebius reported quarterly adjusted losses of 40 cents per share on Tuesday, which beat the analyst consensus estimate for a loss of 44 cents per share. The company reported quarterly sales of $146.1 million, which missed the analyst consensus estimate of $153.69 million by 4.94%.

Nebius projected that full-year sales will be in the range of $500 million to $550 million, lower than the $578.83 million analyst estimate. The company’s full-year guidance appears to be weighing on shares. Nebius also announced a $3 billion, five-year infrastructure deal with Meta.

Following the company’s quarterly results, Nebius announced an equity distribution agreement up to 25 million of the company's Class A ordinary shares, which is adding to the selling pressure on Wednesday.

Shares were down nearly 9% at last check, according to Benzinga Pro.

Northland Securities analyst Nehal Chokshi reiterated a Buy rating and set a price target of $211 following the print. CICC also initiated coverage with an Outperform rating and set a price target of $143.

Support for the stock is identified at $94.63, just below the current trading price, which may provide a cushion against further declines. If the stock can hold above this support level, it may attract buyers looking for value after the recent drop. Conversely, resistance is noted at $100.51, a level that will need to be overcome for a more bullish outlook to develop in the near term.

NBIS Price Action: Nebius shares were down 8.67% at $93.42 at the time of publication on Wednesday. The stock is trading within its 52-week range of $17.38 to $141.10.

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